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<br /> <br /> 4 <br /> <br />Permissible Projects <br />The South Bend Redevelopment Commission may implement the use of TIF within a <br />redevelopment area or economic development area pursuant to state law (I.C. 36-7-14). <br />Tax increment revenues from the Allocation Area or other sources of funds available to the <br />Redevelopment Commission, may be used for the purposes permitted in state law (I.C. 36-7-14- <br />53 through I.C. 36-7-14-56). <br />Tax increment revenues from the Allocation Area may be used to finance the cost of <br />infrastructure improvements, as well as demolition, in or serving the Allocation Area for the <br />following purposes: <br />1. Transportation enhancement projects, including but not limited to: <br />a. Curbs, gutters, shoulders, street paving and construction; <br />b. Bridge improvements; <br />c. Sidewalk and multiuse pathway improvement; and <br />d. Street lighting, traffic signals, and site improvements including landscape buffers. <br />2. Utility infrastructure projects, including but not limited to: <br />a. Utility relocation; <br />b. Water lines, water wells, water towers, and wastewater lines; and <br />c. Storm water lines, retention ponds, ditches, and storm water basin <br />improvements. <br />3. Public park improvements and recreational equipment <br />Additional permitted uses for tax increment revenue within the Allocation Area include: <br />1. Offset payments by developers on promissory notes in connection with economic <br />development revenue bond financings; <br />2. Pay principal or interest on economic development revenue bonds issued by the unit to <br />provide incentives to developers; <br />3. The acquisition or construction of projects to enhance the cultural attractiveness of the <br />Allocation Area; <br />4. The acquisition or construction of projects, including the acquisition of vehicles and <br />equipment, to enhance the public safety of the Allocation Area. Note, tax increment <br />revenues from the Allocation Area that are allocated for police and fire services located <br />in or benefiting the Allocation Area, including the financing of capital expenditures and/or <br />operating expenses of such services are also permitted; <br />Commented [CD2]: The Commercial TIF has a wider <br />range of activities - do we want to just include the wider <br />list?. There's a list of development area activities and a <br />list of goals/objectives and potential projects